Aeropostale income up 47% in Q3, plans 50 new stores in 2010
New York City Aeropostale reported its net income for the third quarter increased 47% to a record $62.6 million, compared with $42.6 million in the same period last year.
For the third quarter, total net sales increased 18% to $567.8 million, from $482.0 million in the year-ago period. Same-store sales for the third quarter increased 10%.
Meanwhile, the company reported its total net sales for the four-week period ended Nov. 28 increased 14% to $228.0 million, from $200.9 million for the same period last year. Same-store sales increased 7% for the month, compared with a decrease of 5% in the year-ago period. The company noted that its gross margins for the month increased over last year, and its inventories remain well controlled and on plan.
Aeropostale said it plans to invest approximately $70 million in capital for fiscal 2010 to open approximately 25 Aeropostale stores, approximately 25-30 P.S. from Aeropostale stores, and approximately 40 store remodels, in addition to certain information technology investments. This compares with capital expenditures of approximately $50 million in fiscal 2009.
Ahold extends tech agreement with HP
PALO ALTO, Calif. Ahold has extended its existing relationship with HP by signing a new seven-year infrastructure and applications services agreement, the company reported.
Under the terms of the agreement, HP will continue to provide management and support services for Ahold’s global data center environment. In addition, HP will implement HP Business Service Automation to make server and storage capabilities more robust and more highly available.
HP also will provide network services for Ahold’s extensive network that connects its supply chain and distribution with its 3,000 stores, warehouses and office locations across Europe and the United States.
Microsoft CFO to leave company at year’s end
REDMOND, Wash. Microsoft Corp. announced that Chris Liddell will be leaving the company at the end of 2009, and named Peter Klein as the company’s new chief financial officer.
“Chris and his finance team have accomplished a great deal over the past four and a half years. The team is deep and strong, and has an excellent record of building value for our shareholders,” said Steve Ballmer, Microsoft chief executive officer. “Peter brings great finance and operations expertise and a deep understanding of the company, and I am looking forward to a smooth transition that continues our commitment to cost containment and finance excellence.”
Liddell joined Microsoft in May 2005 after serving as CFO at International Paper Co., and chief executive officer of Carter Holt Harvey Ltd., then New Zealand’s second-largest listed company.